Park National Corp OH Has $17.02 Million Holdings in Verizon Communications Inc. (VZ)

Park National Corp OH raised its stake in Verizon Communications Inc. (NYSE:VZ) by 4.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 343,814 shares of the cell phone carrier’s stock after purchasing an additional 15,165 shares during the quarter. Park National Corp OH’s holdings in Verizon Communications were worth $17,016,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Oakmont Partners LLC lifted its position in shares of Verizon Communications by 0.3% in the second quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock valued at $285,000 after buying an additional 22 shares during the last quarter. Conservest Capital Advisors Inc. lifted its position in shares of Verizon Communications by 0.5% in the second quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock valued at $224,000 after buying an additional 23 shares during the last quarter. Regal Wealth Group Inc. lifted its position in shares of Verizon Communications by 0.7% in the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after buying an additional 24 shares during the last quarter. Glassman Wealth Services lifted its position in shares of Verizon Communications by 0.4% in the second quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock valued at $345,000 after buying an additional 31 shares during the last quarter. Finally, Nottingham Advisors Inc. lifted its position in shares of Verizon Communications by 0.5% in the second quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock valued at $287,000 after buying an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 63.37% of the company’s stock.

In other news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total value of $30,030.30. Following the transaction, the executive vice president now owns 6,599 shares in the company, valued at approximately $324,868.77. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 1,830 shares of company stock worth $88,609. Corporate insiders own 0.13% of the company’s stock.

Shares of Verizon Communications Inc. (NYSE VZ) traded up $0.33 during midday trading on Monday, reaching $52.67. The company’s stock had a trading volume of 28,935,500 shares, compared to its average volume of 15,721,498. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.83. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. The firm has a market cap of $214,762.17, a PE ratio of 14.04, a PEG ratio of 4.94 and a beta of 0.57.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. During the same quarter last year, the company posted $1.01 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. equities research analysts expect that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.48%. Verizon Communications’s payout ratio is 60.51%.

VZ has been the subject of a number of recent analyst reports. Cowen reaffirmed a “hold” rating and issued a $52.00 price objective on shares of Verizon Communications in a research report on Tuesday, September 19th. Robert W. Baird reaffirmed a “hold” rating and issued a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday, October 4th. KeyCorp reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Wednesday, October 11th. Moffett Nathanson reaffirmed a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Verizon Communications in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $51.99.

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Verizon Communications Company Profile

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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